Townsquare Capital LLC Acquires 550 Shares of W. P. Carey Inc. (NYSE:WPC)

Townsquare Capital LLC increased its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 5.2% in the third quarter, Holdings Channel.com reports. The fund owned 11,099 shares of the real estate investment trust’s stock after buying an additional 550 shares during the quarter. Townsquare Capital LLC’s holdings in W. P. Carey were worth $691,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in WPC. Massmutual Trust Co. FSB ADV increased its holdings in W. P. Carey by 93.1% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 231 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of W. P. Carey by 1,510.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 453 shares in the last quarter. Quarry LP lifted its stake in W. P. Carey by 175.9% in the second quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 357 shares during the period. EdgeRock Capital LLC bought a new position in W. P. Carey during the 2nd quarter worth about $39,000. Finally, Maia Wealth LLC bought a new stake in shares of W. P. Carey in the 3rd quarter valued at about $40,000. 73.73% of the stock is currently owned by institutional investors.

W. P. Carey Trading Down 0.4 %

NYSE WPC opened at $55.81 on Wednesday. W. P. Carey Inc. has a 12-month low of $53.09 and a 12-month high of $67.40. The company has a fifty day simple moving average of $58.21 and a two-hundred day simple moving average of $58.15. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. The stock has a market cap of $12.21 billion, a P/E ratio of 21.97, a P/E/G ratio of 1.04 and a beta of 0.96.

W. P. Carey (NYSE:WPC) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.62). The firm had revenue of $394.78 million during the quarter, compared to analysts’ expectations of $377.43 million. W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The business’s revenue was down 11.9% on a year-over-year basis. During the same quarter last year, the business earned $1.32 EPS. On average, analysts forecast that W. P. Carey Inc. will post 4.52 earnings per share for the current year.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.875 dividend. The ex-dividend date was Monday, September 30th. This represents a $3.50 dividend on an annualized basis and a yield of 6.27%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio is currently 137.80%.

Wall Street Analyst Weigh In

Several analysts have issued reports on WPC shares. UBS Group dropped their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. Barclays lifted their target price on W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Scotiabank lowered their price target on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Evercore ISI boosted their price objective on shares of W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $63.00 target price (up from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $62.88.

W. P. Carey Company Profile

W. P. Carey ranks among the largest net lease REITs with a well-diversified portfolio of high-quality, operationally critical commercial real estate, which includes 1,424 net lease properties covering approximately 173 million square feet and a portfolio of 89 self-storage operating properties as of December 31, 2023.